China will raise power prices paid to coal-fired power plants that comply with the government's coal efficiency standards, said the country's top economic planner on Wednesday, the latest move by Beijing to encourage companies to curb their emissions.Reuters | December 09, 2015, 15:53 IST

BEIJING: China will raise power prices paid to coal-fired power plants that comply with the government's coal efficiency standards, said the country's top economic planner on Wednesday, the latest move by Beijing to encourage companies to curb their emissions.

Plants that open after Jan. 1 and meet the government environment requirements will get an additional 0.005 yuan per kilowatt hour on top of their basic grid tariff, said the National Development and Reform Commission (NDRC) in an official statement.

Those already in operation will get an extra 0.01 yuan per kilowatt hour.

The higher tariffs will take effect in January and last until the end of 2017, when the government will reassess the rate, the NDRC said.

“To save the environment and to fight climate change, my government has planned a major campaign. By 2022, we want to generate 175 GW of renewable energy. In the last three years, we have already achieved 60 GW or around one-third of this target,” he said.